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The Lufthansa Group flies deep into the red

Lufthansa's revenue increased by 3 percent to EUR 7.9 billion in the first quarter. However, adjusted earnings before interest and taxes were significantly lower than in the previous year (previous year: EUR 52 million).

"The main drivers of the decline in revenues were an increase in fuel costs of € 202 million and a decline in unit sales in Europe," the group writes. "The continued reduction in unit costs was only partially able to offset these burdens." The consolidated result fell to -342 million euros (previous year: -39 million euros).

"Overcapacity, especially on short and medium-haul routes across Europe, has weighed heavily on our quarterly results," says Ulrik Svensson, CFO of Deutsche Lufthansa AG. "We believe, however, that our sales units will grow again in the second quarter." Above all, our trust is based on a good booking in the coming months. "

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